How can I earn an extra £200 a month?(43 Posts)
Any realistic ideas of how I can do this? I've spent this evening doing and re-doing the sums, but the bottom line is we are struggling financially.
I've already switched us to the cheapest providers for everything and I meal plan etc. Still can't make ends meet and each month and some bill or other ends up going on the credit card. I can only afford the minimum repayments too and now I'm close to the limit, following an MOT failure this month. Overdrafts are also maxed out.
An extra £200 a month would mean I can afford all our outgoings each month AND be able to start chipping away at the debt, so eventually we'd be better off in the long run. But, how?
Evening job in a local restaurant. Take in ironing. Babysitting.
Have you got any special skills that you could use?
Can you consolidate any cards onto a loan...that way you are actually paying them off, not just covering the interest.
Alternatively can you get a 0% credit card and transfer balances to it? There is a fee but it's much less than interest
I applied for a credit card with a lower interest rate and was declined
I have no special skills. Working evenings isn't possible as I have no one to look after the DC then. Plus I use the evenings to catch up on my coursework (work-related qualification).
@ThePurpleSheep You mention "we" in your OP, but then go on to say Working evenings isn't possible as I have no one to look after the DC then. Can you expand a bit on how you and your partner have your time structured, (basically why they can't do childcare OR get a second job).
Notwithstanding the above, regarding your further comment Plus I use the evenings to catch up on my coursework (work-related qualification).
What about jobs that would enable you to work - off the top of my head, security roles, overnight care roles, that sort of thing. Where you are monitoring something/someone, not actively working as such?
If you can't earn more then you will have to spend less
Write down everything you but and keep a running total
Look for the things you can do without
Things like newspapers, magazines, bought lunches and takeout coffees. sweets, toys, clothes, makeup, perfume, things for the house
Shop at Aldi, Lidl and write a menu plan for the week but don't look in the. Middle aisle
Do you have any items you could sell on Facebook, toys, clothes, baby stuff?
Do you really need the car? Could you do buses?
The best thing to do would be to cut up your credit card and never use it again
I've done all of these things in he past as well as giving up buying alcohol which did save a load of money
£200 a month without taking on a second job is a lot to earn extra every month. Realistically you need to spend less
I'm a lone parent. By we I meant me and the DC. Their father only pays the bare minimum (£27 a month) when the CSA manage to catch up with him. He's an alcoholic and moves around a lot and has no contact (his choice)with DC.
I pay out £400ish every month in childcare costs, so I can work . I really can't afford more and besides nowhere here does childcare for evenings or weekends. I take on overtime whenever possible but due to the extra childcare and the reduction in tax credits/housing benefit (housing benefit take 85p for every pound you earn!) it rarely means we are any better off financially.
I already shop at Lidl only buy the basics. No coffees or magazines. I don't drink alcohol. I don't buy myself clothes unless they are falling apart and can't be repaired. My current (only) pair of shoes, that I bought June 2016, are held together with superglue. DC need coats for winter so that is what I'm saving for at the moment.
Yes I do need my car, its a necessary part of my job, which is why I had to pay the garage with credit card. No equals no work unfortunately. I don't have anything else worth selling. Like I said last night, I've tried re-checking all the figures, cutting back on everything possible, and still it doesn't add up. I don't know what else I can do.
The obvious thing would be can you reduce your childcare costs?
Can you amend your working hours so you do a couple of longer days and then reduce the need for before school/after school club? Or do you have another parent at school that could help you out one day and you pick their kids up another day?
Have you checked you are getting all the financial help you are entitled to? Is there a welfare rights department in your local authority? They can check those things
Have you checked that you are getting all of the benefits that you are entitled to?
I'm a bit stumped, you say you don't have time or childcare to do extra work (absolutely fair enough), so your original question has no obvious answer that I can see.
Could you take in a lodger? What about taking in ironing (I suggested this earlier).
A lodger is a consideration if you have a spare room? Agree also ironing could be done during the evening.
I'm sorry OP, it sounds very tough and you're making a lot of effort to right things. I think something you do online/from home (I'm not sure what your skills are) is the viable option here.
Ask for a pay rise?
Are you using childcare vouchers for paying for childcare? This will save you tax and NI.
What are your skills/talents?
Could you tutor in a subject?
Is there any jobs you could do from home? I dunno phone support or something?
If you do manage to earn some extra money join a credit union.
There might be a grant towards school uniforms if you ask the school or local authority.
Have you heard the trick about taking your car to council MOT places? One to save for next time perhaps.
There's loads of blogs about saving money and making money. Mortgage free in three is one I can recommend. Money Saving Expert always.
Have you checked for PPI?
I made thousands last year and it was easy as pie. Join profit accumulator as they're about the best when you start out. And despite the 'betting' word, there is zero risk. Put very simply, you place a bet and you lay that bet off elsewhere so you cannot lose. All 'winnings' are tax free too
I made well over 10k in about the same about of months with about 30 mins to an hour a day. Do profit accumulators start up offers - you can do these without signing up - and you'll instantly make about £45 guaranteed. There's loads of instruction videos on there
There's also lots of other matched betting sites but PA are really clear and informative. You do need a logical brain but it's all step by step so hard to get wrong
Think there's a thread on MN about it so have a search
Contact your credit card companies and explain, they may be able to give you a 'payment holiday' to give you breathing space.
This has got to be having an effect on your mental health - credit card companies should have a department / specialists to help.
You said no one does evening childcare, could you do evening child minding?
Could you do reselling on eBay? I have my own ebay business selling items I buy at boot sales and other secondhand sources. I do it very part time and do really well out of it, especially at this time of year. Feel free to PM me if you want any advice in how to get started.
Agree with contacting the credit card companies, I know some of them can be sympathetic.
Stepchange are supposedly good with helping you to formulate a debt management plan.
Check out a website called The Money shed
They have lots of ideas on how to make a bit extra and something might take your fancy
Good luck x
Second Tallulah - I buy at car boots at weekend and sometimes small independent charity shops at lunchtime then take good photos and eBay - for me it is more profitable than something like a cleaning job
Matched betting. Start tonight when the kids are in bed. Join odd monkey for £1.00
You'll make £200 a month easily
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